Page 25 - ARUBA TODAY

BUSINESS Thursday 20 July 2017
A25

Technology and health care lift stocks to record highs

0.5 percent, to 2,473.83. hard-to-treat forms of cys-
Despite a sharp drop from tic fibrosis. Vertex soared
IBM, the Dow Jones indus- $27.53, or 20.8 percent, to
trial average added 66.02 $159.69. That followed a
points, or 0.3 percent, to 2.3 percent gain Tuesday
21,640.75. The Nasdaq after regulators approved
composite gained 40.74 a breast cancer treatment
points, or 0.6 percent, to the company developed.
6,385.04. The Russell 2000 Vertex’s stock has more
index of smaller-company than doubled this year and
stocks jumped 14.16 points, it is trading at all-time highs.
or 1 percent, to 1,441.77. All Other health care com-
four indexes closed at re- panies also traded higher,
cord highs. including health insurers.
The S&P 500 technology Cigna picked up $2.21, or
index finally surpassed 1.3 percent, to $174.31 and
its peak from late March UnitedHealth added $2.34,
2000, at the height of the or 1.3 percent, to $189.19.
dot-com boom. That index Those companies mostly
came close to an all-time fell Tuesday after the Re-
high in early June, but af- publican-backed health
ter that technology com- care bill failed in the Sen-
panies went into a swoon ate. Oil prices rose after the
Trader Joseph Lawler, left, and specialist Philip Finale work on the floor of the New York Stock that lasted about a month. U.S. government said fuel
Exchange. U.S. stocks continued to climb Wednesday, led by technology, health care and energy Their recovery over the last stockpiles shrank last week.
companies. Media companies also rose as stock indexes set record highs.
(AP Photo/Richard Drew) two weeks has helped the Benchmark U.S. crude rose
Nasdaq composite pull off 72 cents, or 1.6 percent, to
By MARLEY JAY Energy companies rose corporate profits. a rally as well. $47.12 a barrel in New York.
AP Markets Writer with the price of oil as U.S. “Earnings are coming in Apple picked up 94 cents Brent crude, the standard
NEW YORK (AP) — U.S. energy stockpiles contin- better than expected so to $151.02 and Facebook for international oil prices,
stocks continued to climb ued to shrink. Cable net- far,” said Jon Adams, se- advanced $1.28 to $164.14 gained 86 cents, or 1.7 per-
Wednesday, led by tech- work companies Scripps nior investment strategist while Cisco Systems rose cent, to $49.70 per barrel
nology, health care and Networks and Discovery for BMO Global Asset Man- 39 cents, or 1.2 percent, in London. Oil prices have
energy companies. Media Communications jumped agement. “Technology in to $31.90. Vertex Pharma- mostly stayed between $40
companies also rose as after the Wall Street Jour- particular has come in very ceuticals climbed after it and $55 a barrel since mid-
stock indexes set record nal reported that they are strong.” reported strong results from February of 2016 after they
highs. in talks to combine. The Standard & Poor’s 500 studies of drug regimens plunged from more than
The technology part of the Stocks have been setting index rose 13.22 points, or that are intended to help $100 a barrel in mid-2014.q
Standard & Poor’s 500 in- records for most of this
dex finally broke the record year, and over the last few
it set in March 2000, before months they’ve gotten a
the dot-com bubble burst. boost from a recovery in

T-Mobile beats Wall Street views
in Q2 as it gains new customers

BELLEVUE, Wash. (AP) — 786,000 cellphone custom-
T-Mobile, the country’s ers that pay a bill every
No. 3 wireless carrier, on month, the more lucrative
Wednesday said it contin- kind of customer, up from
ued to add new customers the 646,000 it gained in the
during the second quarter second quarter of 2016.
in a competitive wireless Prepaid customers shrank
market. to 94,000 from 476,000,
The company won new however.
customers even as rivals A metric that tracks how
AT&T and Verizon are now many customers drop T-
also selling unlimited data Mobile for another carrier
plans, which many con- fell.
sumers prefer to plans that The carrier raised its 2017
cap how much they can outlook for several finan-
use. Sprint also offered a cial metrics and reported
big promotion — a year’s that second-quarter net in-
worth of free service for come more than doubled,
switching. to $581 million, or 67 cents
Most Americans already per share.
have a smartphone, so The average estimate of 17
carriers are competing for analysts surveyed by Zacks
them with discounts and Investment Research was
promotions. for earnings of 36 cents per
T-Mobile said it added share.q